BLBG:Treasuries Gain as Hurricane Sandy Looms; Bonds Closed
Treasury futures were little changed, snapping a two-day gain, as cash bond markets were closed due to the risk posed by tropical cyclone Sandy.
Trading volumes slowed as the Securities Industry and Financial Markets Association recommended trading in dollar- denominated fixed-income securities be canceled today after the market shut at midday yesterday. CME Group Inc. said trading for interest-rate contracts was open. Economists said a U.S. report today will show house prices rose in August.
Ten-year contracts for December delivery traded at 132 25/32 at 6:29 a.m. New York time after rising as much as 9/32 to 133 2/32, the highest level since Oct. 16.
Trading volume was 348,127 contracts yesterday, compared with a daily average of 854,650 contracts this month through Oct. 26, according to data compiled by Bloomberg.
The S&P/Case-Shiller gauge of property values in 20 cities climbed 1.9 percent from a year ago, after gaining 1.2 percent in July, according to a Bloomberg survey.
CME Group Inc. opened trading of stock-index futures and options last night until 9:15 a.m. in New York today. The NYSE and Nasdaq said all of their U.S. exchanges will close across every asset class.
CME said trading of interest-rate futures and options including Treasuries, Eurodollar and Federal funds products will resume normal trading hours, including remaining open today on both the floor and the Globex platform.
Sandy, now termed a post-tropical cyclone, was centered about 90 miles west of Philadelphia at 5 a.m. New York time, according to the Hydrometeorological Prediction Center.
To contact the reporters on this story: Anchalee Worrachate in London at aworrachate@bloomberg.net
To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net
